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KNOX.V ·

BC FORM 51-102F3 Securities Act

Mergers & Acquisitions

MATERIAL CHANGE REPORT UNDER SECTION 85(1) OF THE ACT

Item 1. Reporting Issuer

Margaret Lake Diamonds Corp.

Suite 2050 – 1055 West Georgia Street PO Box. 11121 Vancouver, BC V6E 3P3

Item 2. Date of Material Change

September 16, 2016

Item 3. Press Release

Issued on September 16, 2016, at Vancouver, BC, Canada.

Item 4. Summary of Material Change

Margaret Lake Diamonds Inc. announces the Option Agreement with Canterra Minerals Corporation in relation to the Marlin Property has terminated

Item 5. Full Description of Material Change

See attached press release.

Item 6. Reliance on Section 85(2) of the Act

N/A

Item 7. Omitted Information

None

Item 8. Senior Officers

The following senior officers of the Issuer are knowledgeable about the material change and may be contacted by the Commission at the address and telephone number:

Paul Brockington President, CEO & Director (604) 630-2810

Item 9. Statement of Senior Officer

The foregoing accurately discloses the material change referred to herein.

Dated this 16th Day of August, 2016. “Paul Brockington”

Paul Brockington Name

President,CEO & Director Position / Title

Vancouver, B.C. Place of Declaration

MARGARET LAKE DIAMONDS INC.

Suite 2050 - 1055 West Georgia Street P.O.Box 11121 - Royal Centre Vancouver, BC V6E 3P3

MARLIN OPTION AGREEMENT ______________________________________________________________________________

September 16, 2016 TSX-V: DIA

Margaret Lake Diamonds Inc. (the “Company”) announces the Option Agreement with Canterra Minerals Corporation in relation to the Marlin Property has terminated. The Company will focus its efforts to move forward on the original Margaret Lake property where 12 drill targets have been defined. Plans will be disseminated as they are finalized in the near future.

On behalf of the Board of Directors

MARGARET LAKE DIAMONDS INC.

“Paul Brockington”

Paul Brockington, Chief Executive Officer

For further general information, please contact Paul Brockington at 604-630-2810.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.